Cykros on Nostr: I think Jeff gets caught up on semantics, but perhaps so does Parker, to an extent. ...

I think Jeff gets caught up on semantics, but perhaps so does Parker, to an extent. Jeff's big thing saying QE isn't money printing has more to do with his insistence that it isn't inflationary, because it isn't. Is it printing money? Sure, kind of...technically we could split hairs and call it a type of credit that just can't be defaulted on, but effectively, sure, it's money. Does it expand the broad money supply, like it aims to though? No, and that's the counter intuitive part Jeff drives home, because of how it disincentivizes private formation of capital, aside perhaps from some distortions where everyone lends to the top companied who need it least and just stash it away.

I won't defend Jeff's rejection of Bitcoin, but I do think there's a lot of talking past each other with whoever he talks about the money printing issue. Bitcoiners can learn a lot from his area of focus if only the silly semantic argument were set aside, because it is the private banks who are behind the inflation we have opposed. If you kill the Fed and keep them, you just bring back the free banking era boom and bust cycles of extraction of wealth. Different, but not better. All banks, not just central banks, are the problem.

https://fountain.fm/episode/DmrwzxIAGXfP1mEQEKKH

quoting nevent1q…ajp7